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US spot Bitcoin exchange-traded funds (ETFs) recorded significant net outflows on Tuesday, extending a streak of negative flows in the cryptocurrency market.
<h2 id="us-spot-bitcoin-etfs-see-287-million-in-biggest-net-outflow-since-may">US Spot Bitcoin ETFs See $287 Million in Biggest Net Outflow Since May</h2>
According to SosoValue data, 12 spot Bitcoin ETFs experienced net outflows totaling $287.78 million, marking the largest single-day outflow since May 1.
Among ETFs, BlackRock's IBIT, the largest spot Bitcoin ETF by net assets, reported no inflows or outflows during the day.
The second-largest spot Bitcoin ETF, Grayscale’s GBTC, saw $50.39 million in outflows, while Fidelity’s FBTC ETF took the biggest hit with $162.26 million in net outflows.
Other ETFs also felt the impact of the market downturn, with Ark and 21Shares’ ARKB reporting $33.6 million in outflows and Bitwise’s BITB seeing $24.96 million in withdrawals. Several other ETFs managed by VanEck, Valkyrie, Invesco and Franklin Templeton also saw modest outflows.
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The outflows coincided with a broader market sell-off, with Wall Street falling on Tuesday following the release of weaker-than-expected ISM manufacturing data.
The US ISM manufacturing index for August was 47.2%, up slightly by 0.4 points from July but still indicating contraction in the sector.
Despite the sell-off, trading volume for spot Bitcoin ETFs remained relatively steady, totaling $1.56 billion on Tuesday, slightly more than $1.54 billion last Friday. The U.S. market was closed on Monday for a holiday.
The outflows were not limited to Bitcoin ETFs; U.S. spot Ethereum ETFs also pulled back significantly. On Tuesday, these ETFs recorded net outflows of $47.4 million, the largest daily outflows since Aug. 2.
Grayscale’s Ethereum Trust (ETHE) led the outflows among Ethereum ETFs with $52.31 million withdrawn, while Fidelity’s FETH ETF bucked the trend with net inflows of $4.91 million.
Seven other spot Ether ETFs reported no activity during the day. Trading volume for these Ethereum ETFs fell from $173.66 million last Friday to $163.5 million on Tuesday.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/us-spot-bitcoin-exchange-traded-funds-etfs-record-highest-outflow-since-may-1-here-are-the-details/" rel="noopener noreferrer nofollow">US Spot Bitcoin Exchange Traded Funds (ETFs) Record Highest Outflow Since May 1! Here Are the Details</a>

US Spot Bitcoin Exchange Traded Funds (ETFs) Record Highest Outflow Since May 1! Here Are the Details

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